XRP Just Showed a Major Bullish Response. Here’s What to Watch

XRP has printed a bullish Hammer on the 2-week chart, closing above the 100 EMA. This is a clear technical reaction at a key support level. According to EGRAG CRYPTO (@egragcrypto), this is not a random bounce. The analyst shared a chart showing that buyers are actively stepping in.

The current price action sits within a Descending Broadening Wedge. This pattern remains intact, guiding the potential next moves. XRP has yet to break out of this structure, but the recent bullish candle highlights the growing buying pressure near support. EGRAG CRYPTO notes the next probable move is toward $2.20.

XRP Key Levels to Watch

XRP’s near-term movement shows defined targets based on technical analysis. The immediate range highlights a 57% upside and a 43% downside, providing a reference for potential swings. These percentages frame the likely short-term price reaction within the current structure.

The Descending Broadening Wedge sets additional bounds. The lower boundary sits at $1.1958, offering a potential support level if sellers gain control. On the upper side, the wedge reaches $3.50.

This marks a probable resistance for buyers during a recovery, and would place the asset just below its all-time high of $3.65. These levels act as key reference points for market participants navigating the current technical environment.

Beyond these ranges, the chart identifies extreme potential levels. On the upside, $9.50 represents a long-term target if bullish momentum extends significantly. Conversely, $0.5023 serves as a lower extreme scenario. Monitoring these levels helps traders anticipate both conservative and extended price movements.

Technical Indicators and Market Reaction

The bullish hammer candle at support indicates that buyers have entered decisively. The recent market-wide downturn influenced the formation of this pattern, and closing above the 100 EMA adds strength to the reaction.

EGRAG CRYPTO notes that these signals show technical interest rather than emotional or speculative activity. The structure of the wedge continues to define market behavior, with the asset searching for the bottom before a breakout occurs.

The Descending Broadening Wedge shows clear boundaries. The price remains near the lower trendline, testing support. EGRAG CRYPTO emphasizes that while the bullish candle is a positive development, full confirmation requires follow-through above $2.40. Until that level is secured, the market navigates the corrective environment defined by the wedge.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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